Care Fees Cap and False Hope

Care Fees Cap from 2016.

So say the Government, but the Daily Telegraph is unconvinced that many people will actually benefit from the proposed £72,000 care fees cap.  There are some things you can do – and some you cannot – to protect assets against Care Fees.  The main thing is to make sure that sound legal planning is in place whilst your are still young and is carefully maintained over the years – a service we offer.  We work with clients, not customers and a client is a person who is regularly in touch to keep up with changes in the Law, in Tax and in family circumstances,

We all realise that the Government have to be economical with our money (no matter which party is in power, it is not a political point) so all of us need to be well prepared for when things go wrong, or we just get too old to cope as we used too.  We also need to admit when we need help!  Here is a little of the article on the Care Fee cap, which will be a great interest to older Eastbourne residents and also those with parents.

“The average care home resident will gain nothing from Government pledges to cap their fees, economists have warned.

Research by the Centre for Economics and Business Research shows that the average care home resident will die without ever becoming eligible to benefit from a £72,000 cap on care home fees.

The study shows that the typical resident of a care home stays there for two years and four months, paying on average a total of £69,000 in fees.

Meanwhile a nursing home resident stays for one year and five months – paying an average of £57,000.  The Government has promised to cap fees at £72,000 from 2016, as part of efforts to reduce the number of pensioners forced to sell their homes to pay for care.”

Read the rest of the article here.  If you would like to ensure that you are properly organised from the Legal Planning viewpoint, please get in touch.

IM